Hey there. I'm a new currency collector. I had been looking for a North African currency note yellow seal. I purchased one earlier on ebay today and was pretty excited. It looks real to me, matches what it should look like in my opinion and says silver certificate on top. http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=220594160053&ssPageName=STRK:MEWNX:IT I got a little scared after reading more posts on here about people forging these notes. Does this look real to some of you more experienced collectors? If so, did I get a pretty good deal? According to my copy of A Guide Book of United STates Paper Money, it has a value of around $90 in VF-20 condition. Thanks in advance.
Hi Scott - I have at times shared your concerns regarding the genuineness of specimens offered on ebay. Given that I have much to learn regarding currency, I tend to only acquire specimens that have been certified and graded. I'm sure there are plenty of folks on this forum who can assist you with your enquiry. Welcome to CoinTalk
It looks real to me - The serial number and plate numbers are consistent with a Series 1934A North Africa note. Here's mine for comparison:
These were produced for distribution during World War II for use around North Africa and the Mediterranean Sea.
There is a little more to it than that. They were used to pay US military personnel in the initial invasion of North Africa and Italy. Once a foothold was gained and supplies of local currency or Allied Military Currency were sufficient, the yellow seal notes were no longer issued. They are also referred to as "spearhead curency". This is the only time in the European Theatre during the war that US personnel were paid in dollars, otherwise they were paid in local currency. Yellow seal notes were paid to US personnel who were transiting between locations in the European Theatre. They were to be exchanged for local curency upon arrival at the new location. Finally, they were used to pay US personnel when they rotated back to the US after the war was over. The purpose of the yellow seal (and the Hawaii overprinted notes) was to create a type of currency that could be easily identified and separated from other US currency so it could be withdrawn and demonetized.
My understanding is, as with the Hawaii notes, easily identifiable and easily demonetized such that if it fell into enemy hands or if U.S. held areas/territories where the currency was issued fell into enemy hands...
Thanks for the help everyone, it's much appreciated. Thanks also lettow for the explanation of the notes. That was some good information. I've never heard of the term "Spearhead Currency", and information like this is good for a novice like myself.
The term "Spearhead Currency" was used by the Treasury and military officials during WWII. It appears in Treasury and War Department documents. The British Military Authority notes used in North Africa, Italy and elsewhere were also termed SPearhead Currency as they were used for the same purpose. It is not a term you will hear often in numismatic references.
Okay, so now I'm really confused. The US government had the foresight and planning to produce notes for issue and use in theatres of war 5 years before hostilities broke out and 7 years before the US decided to join in?
No. The series date on US paper money does not correlate to when it was printed or issued. The NA and Hawaii notes carry 1934 and 1935 Series dates but they were not printed until after the war began. Series 1935 notes (with the appropriate series letter after the date) continued to be printed and issued until Series 1957 notes were issued.
Remember that series dates aren't printing dates. The Hawaii and North Africa notes were all printed between 1942 and 1944. Currency with the 1934 date was printed clear into the early '50s, before being replaced by the redesigned Series 1950 (in the FRNs) and Series 1953 (in the silvers).
